Catheter Precision, Inc. Form 8-K Summary
Business Context and Reporting Period
Catheter Precision, Inc. (NYSE American: VTAK) filed this Current Report on Form 8-K on July 14, 2026, regarding events occurring on July 15, 2026. The filing details the consummation of a previously disclosed private placement of Series C-3 Convertible Preferred Stock.
Key Financial Metrics
- Capital Raised: $3,470,000 in aggregate gross proceeds from the issuance of 3,470 shares of Series C-3 Convertible Preferred Stock.
- Stated Value: $1,000 per share of Series C-3 Preferred Stock.
- Use of Proceeds: Working capital, repayment of loans, and general corporate purposes.
- Placement Agent Fees: Customary fees paid to Dawson James Securities, Inc. (specific amounts not disclosed in this filing).
- Revenue/Profit/Cash Flow: The filing text does not provide a clear value for revenue, profit, operating cash flow, margins, or existing debt levels.
Material Changes
The primary material change is the closing of the Series C-3 equity offering. This transaction results in:
- Issuance of 3,470 shares of new preferred stock ranking senior to Common Stock regarding dividends and liquidation.
- Potential dilution to existing Common Stock holders upon conversion.
- Effectiveness of the Company's Registration Statement on Form S-1 (File No. 333-296946) on July 10, 2026, allowing for the resale of common stock issuable upon conversion.
Terms, Outlook, and Risks
- Conversion Terms: Initial conversion price of $0.632 per share with a floor price of $0.35 per share (waivable by the Company).
- Ownership Limits: Beneficial ownership limitation initially set at 4.99% of outstanding Common Stock, extendable to 9.99% with 61 days' notice.
- Regulatory Status: Issued under Section 4(a)(2) and Rule 506(b) exemptions; purchasers are accredited investors.
- Risks: Dilution of existing shareholders and seniority of new preferred stock in liquidation scenarios.
Investor Verification Checklist
- Verify the specific amount of placement agent fees and expenses deducted from the $3,470,000 gross proceeds to determine net cash received.
- Review the full text of the Series C-3 Certificate of Designation (Exhibit 3.1) for detailed dividend rates, voting rights, and protective provisions.
- Confirm the current outstanding share count of Common Stock to calculate the precise dilution impact of the 4.99% beneficial ownership cap.
- Assess the Company's current debt load to evaluate the impact of the stated "repayment of loans" use of proceeds.